Both types of cards offered by Yordex are prepaid MasterCards that are accepted anywhere that takes MasterCard. Virtual and physical cards are both topped up from the Yordex master balance, which has to be topped up by following this process.
The main difference is that virtual cards are for one-off purchases, subscriptions and digital spend whilst physical cards are for frequent 'real-world' expenses.
Although it is up to each customer how to use Yordex, we recommend that employees who regularly have expenses (for travel, entertainment etc.) are given physical cards whilst all others use virtual cards for infrequent online spend or subscriptions.
- Virtual cards are pre-approved and have to be requested as a purchase order (PO). Only after the purchase order has been through the approval process, the card details will be visible to the user that requested them to be used for the payment.
- Virtual cards are unique for each transaction, either a one-off or a subscription.
- For subscriptions, virtual cards are being topped up monthly by the amount of the monthly subscription price. When the subscription period ends, the card is automatically cancelled. This prevents you from being overcharged.
- For one-off purchases, the card will only be topped up once by the amount specified in the PO. Once the payment has been made, the card is cancelled.
- The physical Yordex card is topped up by the account admin either manually or automatically.
- Once the physical card has been topped up, users can choose how to spend its balance. The expenses made on the physical Yordex card will automatically appear in the system where they will go through the approval process.
- After making a payment, the receipt and cost allocation can be added to the expense either on the web based app or platform, as explained here.
- We do not recommend adding subscriptions to a physical card as this offers less control.